Acca sbr Study guides, Revision notes & Summaries

ACCA SBR Exam Questions with Correct Answers What if not followed IAS or IFRS? - Answer-Not True and Fair = UNETHICAL Why PRINCIPLES not RULES? - Answer-Principles harder to circumvent Why have a FRAMEWORK? - Answer-Provides guidances for standards setters Gives guidance where no standards exist Helps all parties with intrerpretation 2 x Useful qualities of financial information - Answer-RELEVANCE = Influences Decisions FAITHFUL REPRESENTATION = Complete, Neutral, No Errors Wha...

ACCA SBR 2023 Exam Questions with Complete Solutions What if not followed IAS or IFRS? - ANSWER Not True and Fair = UNETHICAL Why PRINCIPLES not RULES? - ANSWER Principles harder to circumvent Why have a FRAMEWORK? - ANSWER Provides guidances for standards setters Gives guidance where no standards exist Helps all parties with intrerpretation 2 x Useful qualities of financial information - ANSWER RELEVANCE = Influences Decisions FAITHFUL REPRESENTATION =...

ACCA SBR 2023 Exam Questions with Complete Solutions

ACCA – SBR Study Questions With Complete Solutions

ACCA – SBR Study Questions With Complete Solutions

ACCA – SBR Study Questions With Complete Solutions

>>>>>> FRAMEWORKS What if not followed IAS or IFRS? correct answer: Not True and Fair = UNETHICAL Why PRINCIPLES not RULES? correct answer: Principles harder to circumvent Why have a FRAMEWORK? correct answer: Provides guidances for standards setters Gives guidance where no standards exist Helps all parties with intrerpretation 2 x Useful qualities of financial information correct answer: RELEVANCE = Influences Decisions FAITHFUL REPRESENTATION = Complete, Ne...

What if not followed IAS or IFRS? Not True and Fair = UNETHICAL Why PRINCIPLES not RULES? Principles harder to circumvent Why have a FRAMEWORK? Provides guidances for standards setters Gives guidance where no standards exist Helps all parties with intrerpretation 2 x Useful qualities of financial information RELEVANCE = Influences Decisions FAITHFUL REPRESENTATION = Complete, Neutral, No Errors What does RELEVANCE offer? PREDICTIVE VALUE CONFIRMATORY VALUE 4 X Qualities of FAITHFU...

>>>>>> FRAMEWORKS What if not followed IAS or IFRS? correct answer: Not True and Fair = UNETHICAL Why PRINCIPLES not RULES? correct answer: Principles harder to circumvent Why have a FRAMEWORK? correct answer: Provides guidances for standards setters Gives guidance where no standards exist Helps all parties with intrerpretation 2 x Useful qualities of financial information correct answer: RELEVANCE = Influences Decisions FAITHFUL REPRESENTATION = Complete, Ne...